Troubled by unequal pay rather than low pay:The incentive effects of a top management team pay gap

We examine the relationships with firm performance of the internal pay gap among individual members of the top management team(TMT) and the compensation level o...     

Pollution Permits: A Discussion of Fundamentals

The author provides an economic analysis of tradable pollution permits by clarifying the derivation of permit supply and demand relationships and connecting those concepts to permit trading for the case of two polluters. Using the standard comparison of costs and benefits, he makes the marginal cost of emission reduction of a typical polluter the basis of the derivation of its permit supply and demand schedules. Developing these relationships for both polluters allows the creation of market schedules for permit supply and demand. He demonstrates equilibrium in the market for permits and the corresponding trading of permits. He discusses the satisfaction of the equi-marginal principle, which ensures that pollution reduction is achieved efficiently. The author concludes by considering the consequences of the presence of a third polluter in the market for permits.     

Ökonomische Folgen eines Atomausstiegs in Deutschland

Nach der Atomkatastrophe in Fukushima hat die Bundesregierung beschlossen, bis Mitte Juni die Zukunft der Atomenergie in Deutschland zu überdenken. Dabei k?nnen unterschiedlich weitgehende Szenarien betrachtet werden. Sie reichen von einer Rücknahme der im letzten Herbst beschlossenen Laufzeitverl?ngerung bis hin zum vollkommenen Ausstieg aus der Kernkraft. Die Autoren vertreten grunds?tzlich die Auffassung, dass die wirtschaftlichen Folgen eines Atomausstiegs zu bew?ltigen sind. Mit einer Steigerung der Energiepreise muss allerdings gerechnet werden — wie deutlich diese ausf?llt, und welche Referenzwerte herangezogen werden müssen, h?ngt von vielen Faktoren ab.     

Organizational Role and Environmental Uncertainty as Influences on Ethical Work Climate in Military Units

In addition to a person’s character and training, the organization’s ethical work climate (EWC) can assess how the organization influences an individual’s ethical decision-making process by examining the individuals’ perception of “what is the right thing to do” in a particular organizational environment. Relatively little research has explored which EWCs dominate military units and the impact of organizational role and environmental uncertainty on individuals in the military and their ethical decision making. In this study, we examined the predominant EWCs among military units and found that certain organizational influences are associated with the specific EWCs. Based on these discoveries, we discuss the implications of EWC studies and the influence of organizational role and environmental uncertainty for researchers, as well as military leaders.     

Exploring the antecedents of social liabilities in CVC triads—A dynamic social network perspective

This study addresses the emergence of social liabilities by taking a social network perspective on intra- and interorganizational network configurations using the hitherto unexplored example of the corporate venture capital (CVC) triad (CVC unit, corporate business unit, and portfolio company). We investigate social capital and social liability resulting from network formation and transformation and assess their impact on interorganizational knowledge transfer and creation. Examining 12 CVC triads in Germany, we identify new antecedents of social liability, show that social capital can initially facilitate knowledge transfer and creation, and that structural and personal lock-ins may eventually turn that capital into a liability. We make key theoretical contributions to the social network and CVC literature.